In brief
- Mercado Libre killed Mercado Coin after a failed four-year experiment.
- The company’s stablecoin is replacing the Mercado Coin loyalty token.
- Nubank’s Nucoin collapse shows industry-wide failure of reward tokens.
Latin America’s e-commerce giant quietly killed its ERC-20 loyalty token four years in—while Nubank’s Nucoin already died the same death.
Mercado Libre is shutting down Mercado Coin. The company—which is bigger than Amazon in Latin America—announced through its Mercado Pago wallet that the token will stop functioning on April 17.
Users holding the coin have three options: Sell it through the app, spend it as purchase credit on the platform, or do nothing and wait for it to be auto-converted to local fiat. Mercado…
